in the lowest grade as they are in locations least suitable for retail trade.
85. Rents for units in flatted factory estates are calculated on a cost basis, as with domestic rooms, but the capital cost includes the full upset price that would be set if the land were put up for sale by public auction, and is amortized over twenty-one years with com- pound interest at 5% per annum. Here again rates are included in the rent payable by tenants. In the older factories, rentals for a unit of 198 square feet vary from $75 a month on the ground floor to $45 on the top floor, and in the newest factories from $140 to $65 for a unit of 256 square feet.
86. Capital expenditure on estates and factories incurred by the Public Works Department amounted to $27,996,017 during the year, bringing to $931,755,805 the total spent under this head in the 19 years of the Resettlement Department's existence. The department's annual recurrent expenditure has grown from $1,907,431 in 1954-55 to $85,461,579 this year, plus $4,217,486 spent on improvements to estates and licensed areas. A statement of expenditure and revenue 1954-1973 is at Appendix 14. Gross rents from estates and factories amounted to $93,005,212 ($69,452,584 nett after transfer of water and rate elements) during the year, and $18,820 or about 0.02% was written off as irrecoverable arrears. Outstanding arrears decreased by $106,016 during the year under review. Other main sources of revenue were cottage rents and permit fees of $283,824 and $604,835 respec- tively, and $667,613 collected in fees for sites in licensed areas. The department continues to carry a very substantial deficit of $15,166,400 on the operation of the estates and factories because rentals have not been raised to meet increased costs of management, maintenance and improvements.
CHAPTER 10
ORGANIZATION AND STAFF
DEPARTMENTAL ORGANIZATION
87. The department had an overall establishment of 5,745 officers as at 31st March, 1973, and was divided into four divisions, the duties of which are broadly as follows:
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